Europe’s initiative involves 112 cities committed to achieving net-zero greenhouse gas emissions by 2030, requiring €650 billion. Part of the “100 Climate Neutral and Smart Cities’ Mission,” these cities aim ahead of national targets set for 2050. Government-supported climate plans are developed and evaluated by the European Commission and Bankers without Boundaries, with 33 plans approved.
To fund these, the EU’s “Climate City Capital Hub” uses national guarantees to attract private digital finance, including local funds and bonds. The European Investment Bank supports cities as Europe’s climate bank, emphasizing digital climate-neutrality investments amidst urban heat island challenges.
